State of Tennessee Department of Treasury Lowers Position in Raymond James (NYSE:RJF)

State of Tennessee Department of Treasury reduced its position in Raymond James (NYSE:RJF - Free Report) by 4.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 67,479 shares of the financial services provider's stock after selling 3,047 shares during the period. State of Tennessee Department of Treasury's holdings in Raymond James were worth $10,482,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RJF. TCTC Holdings LLC boosted its stake in Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after purchasing an additional 106 shares during the period. Y.D. More Investments Ltd lifted its holdings in shares of Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock worth $36,000 after buying an additional 127 shares in the last quarter. Plato Investment Management Ltd boosted its position in shares of Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 217 shares during the period. Covestor Ltd grew its stake in Raymond James by 56.7% during the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 122 shares in the last quarter. Finally, Mizuho Bank Ltd. bought a new stake in Raymond James during the 4th quarter worth approximately $53,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Trading Up 0.2 %

Shares of Raymond James stock traded up $0.24 during trading on Friday, reaching $137.50. The company's stock had a trading volume of 1,139,466 shares, compared to its average volume of 1,295,974. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The firm's 50-day moving average is $140.43 and its two-hundred day moving average is $151.84. The company has a market cap of $28.18 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 0.90 and a beta of 0.94.

Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). The business had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.46 billion. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. During the same quarter in the previous year, the company earned $2.31 earnings per share. On average, sell-side analysts anticipate that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.45%. Raymond James's dividend payout ratio (DPR) is currently 19.25%.

Wall Street Analysts Forecast Growth

RJF has been the subject of several analyst reports. Cowen reissued a "hold" rating on shares of Raymond James in a report on Thursday. The Goldman Sachs Group dropped their price objective on Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Bank of America upped their target price on Raymond James from $198.00 to $201.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. StockNews.com cut Raymond James from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, JMP Securities reissued a "market outperform" rating and set a $175.00 price objective on shares of Raymond James in a report on Thursday. Ten research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Raymond James has an average rating of "Hold" and a consensus target price of $157.64.

Raymond James Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.